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University of Maryland (UMD) to be granted $18 million for investment in Maryland athletics and sports management program


Former Chicago Bulls executive, Stephen Schanwald, has pledged an $18 million donation to the University of Maryland, with $10 million going towards Maryland athletics and $8 million towards the business school’s Sports Management Program and scholarships. This donation marks the third-largest gift in Maryland Athletics history.

In recognition of his generosity, the university will name the sport management program, Xfinity Center Pavilion, and Jones-Hill House football practice fields after Schanwald. The Stephen M. Schanwald-Russ Potts External Operations Suite in Xfinity Center will also honor Schanwald and his former mentor, Russ Potts.

Schanwald expressed his excitement at being able to support young people in achieving their dreams. A graduate of the university in 1977, Schanwald has had a successful career in sports marketing, working with organizations such as the United States Air Force Academy, Pittsburgh Pirates, and Chicago White Sox.

University president Darryll Pines praised Schanwald’s contributions, stating that he has left a lasting impact on the NBA and is now doing the same for the University of Maryland. This generous donation will benefit current and future students, student-athletes, and Terps fans for years to come.

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Photo credit dbknews.com

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